An inclusive approach to supply chain is good procurement practice as it brings transparency to the process, opens up new and different options, brings innovative ideas, products and solutions to the supply chain and in most cases, keeps your supply chain competitive.
Unlocking diversity briefingDownload
Clients and other stakeholders increasingly expect companies in the built environment to engage with the wider marketplace and to give a wide range of relevant companies the opportunity to freely and fairly compete for supply and sub-contracting opportunities. To gain innovation, competitive advantage and keener pricing, we should look at potential supply chain partners outside our current networks.
There could be small and medium enterprises, “local” businesses, social enterprises and organisations majority owned and controlled by people from diverse or under-represented groups (e.g. ethnic minority groups, women) who could make brilliant suppliers – we just haven’t met them, yet. Conversely, we could be the beneficiary of other companies undertaking this kind of ‘supplier diversity’ activity, by being given the opportunity to compete for new contracts, ourselves.
Supplier diversity - inspiration from another sector
The Coca-Cola Company is committed to supplier diversity by maximising procurement opportunities and proactively engaging and building partnerships with diverse suppliers. Whilst this is not our sector or country the business benefits remain.
“Diverse supply chains not only bring innovative ideas and solutions to your business, they can also increase competitive advantage and market growth. ”Malcolm Harrison, Group CEO, Chartered Institute of Purchasing & Supply